What is your company about?
The company LetsLearn.com has a unique business model with a clear value proposition of bringing the world of students across different continents and regions to one common place, your desktop. To start the target market is Massachusetts, and over 1 million students to share their knowledge and help each other. One-to-many and many-to-one learning and teaching, collaborating to get the answer to your questions and learning together is the main focus here.
What is the addressable market?
The addressable market is currently the state of Massachusetts and the 1 million students currently studying in the education system. We are looking at increasing our customer base by around 25% each year. And the forecasted population and eventually adding to the increasing student population and GenY that is going to start and rely more on the internet for their intellectual needs.
What drives demand in each segment and how might that change over time?
We are trying to start with a focused segment, by targeting the state of MA and specifically high school and college that want to come together to learn. The market is very dynamic these days due to the technology and new entrants coming in with similar business models. Therefore, to cope with these factors we are focusing on the IP rights and other measures that give us a competitive advantage. The demand for our service would definitely be driven by the quality of discussion and information exchange that will take place on the site. Therefore, its imperative to have a very smart and tech savvy web administrators team, who are always monitoring the content for relevance and timeliness. For the high school segment what will drive demand will be the relevance of material on our site, the qualifications of our staff and students having access to our site. High school students that are struggling in their classes and that are not comfortable finding their own study groups in school will use our site to find virtual study groups. This virtual nature is less stressful for students that are not comfortable is social settings and tend to be shy in class. The college student will have similar needs that lead them to our website but will focus on material that is more challenging. This will make it more challenging to find study partners in a physical setting.
What are the risks to the forecast?
Forecasts today are very liable to change and external pressure and factors. Forecasts are just assumptions based on the current market trends, level of education, Internet penetration, available resources and pool of students. However, these factors might change drastically due to new technology in the Internet field. As a matter of fact, there is always something that a business model lacks that someone else can see. Therefore, another product innovation is likely to occur down the road. Hopefully, it is our company that introduces innovations but it highly possibly that a competitor will instead.
http://massachusetts.educationbug.org/public-schools/
http://answers.yahoo.com/question/index?qid=20090325214055AAcYFBe
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